Sleep Innovations, a West Long Branch, New Jersey-based maker of polyurethane foam products, has retained the New York investment bank Sawaya Segalas & Co. to explore opportunities that may include the sale of the business. Sleep Innovations was founded in 1996 and has a number of investors over the years, including the private equity firm Catterton Partners.
PRESS RELEASE:
WEST LONG BRANCH, N.J. – (BUSINESS WIRE) – Sleep Innovations, Inc., a recognized leader in developing, manufacturing and marketing innovative polyurethane foam products proven to deliver enhanced comfort, relaxation and rejuvenation, announced today that it has retained New York-based Sawaya Segalas & Co., LLC, a leading consumer investment banking firm, to explore strategic opportunities that could include the sale of the business.
Founded in 1996, Sleep Innovations’ products include memory foam mattress toppers, pillows, mattresses and specialty products sold to leading U.S. retailers as well as bulk materials and fabricated components sold to original equipment manufacturers (OEM) serving the bedding, furniture, automotive, marine, medical and packaging markets.
Sleep Innovations’ Board of Directors believes the Company’s success since its management change in 2009 offers an opportunity for current investors to realize the benefits of the value created over the past two years while attracting longer term investors committed to the Company’s aggressive growth plans.
Sleep Innovations has grown in a challenging economic environment by driving relevant and inspiring innovation including pioneering the development of gel-infused memory foam which has gained wide consumer acceptance. Through its EOS Innovation Center, the Company has spearheaded the introduction of innovative new products totaling nearly 20 percent of revenues annually.
The Company’s capital investments in its state-of-the-art foam pouring facility in Baldwyn, MS as well as enterprise-wide investments in lean deployment and productivity have created an efficient manufacturing platform to support improved quality, delivery and reduced costs.
Michael Thompson, President and CEO of Sleep Innovations said, “We are a significantly transformed business as a result of implementing our strategic plan that focuses on innovation, customer collaboration and operational excellence. Sleep Innovations has an extremely talented team of nearly 800 employees who are dedicated to continuous improvement and are enthusiastic about the possibility of accelerating our growth initiatives including the introduction of a robust pipeline of new products.”
Sleep Innovations expects the process to progress quickly and does not plan to comment further until the completion of its review of strategic opportunities.
About Sleep Innovations
Sleep Innovations is the leader in consumer-driven foam products, proven to deliver comfort, relaxation and rejuvenation. The company designs and manufactures advanced memory foam products, including pillows, mattress toppers, mattresses, mattress protectors and home comfort, travel & pet products. Through extensive clinical and consumer testing, Sleep Innovations has found that its breakthrough foam solutions help to improve the quality of its consumers’ lives through better sleep. Follow Sleep Innovations on Twitter at twitter.com/ChooseSI. For more information, visit www.sleepinnovations.com.
About Sawaya Segalas
Sawaya Segalas & Co., LLC is a dynamic and growing boutique investment bank formed exclusively to serve clients in the consumer industry. Through its experience, creativity and exceptional dedication to each client relationship, Sawaya Segalas advises selected clients on transactions that create lasting value.
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